Alumis director Akkaraju buys $5.8m, sells $1m of ALMS shares
Akkaraju, a director at Alumis Inc., made significant share transactions in September 2026. He bought shares worth $4.9 million at prices between $11.02 and $11.60 per share, and then sold shares worth $1 million at prices ranging from $10.38 to $10.91 per share. The transactions were indirect through two investment funds, Samsara BioCapital, L.P. and Samsara Opportunity Fund, L.P.
The sale resulted in a short-swing profit liability that Akkaraju agreed to give to Alumis Inc. Notably, ALMS stock has fallen 65% over the past six months despite a 128% gain over the previous year, trading at $9.80 with a 52-week high of $31.35. Additionally, Alumis Inc. reported negative results from its Phase 2b trial for a lupus drug, leading to a downgrade from Guggenheim and price target reductions from Morgan Stanley and Wells Fargo.
Despite these setbacks, the company plans to explore promising results from a subgroup in Phase III development.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
